Posts by Paige Wisdom
Paige Wisdom was named to the position of executive vice president and chief enterprise risk officer in October 2010. She is a member of the company’s senior operating committee and reports directly to CEO Don Layton.
In this role, Wisdom is responsible for providing the overall leadership, vision, and direction for enterprise risk management and leads an integrated risk management framework for all aspects of risk across the organization. She is responsible for working directly with senior management and the board of directors on the full breadth of Freddie Mac’s risk management activities.
Risk comes in many shapes and sizes at Freddie Mac. Some risks – such as credit risk and interest-rate risk – are obviously a highly visible and top-of-mind part of our business. Those risks are always with us, and we are experienced at identifying and managing them.
But other risks are less predictable. Like all organizations, Freddie Mac faces inherent risks in our processes and procedures, our relationships with counterparties, our models and methods, our technology systems, and in the routine tasks that each of us carry out every day. These risks can sometimes remain in the background – until a problem arises that unexpectedly brings them forward. At the same time, we know there will always be some risks that we need to explicitly accept in the interests of achieving critical objectives – as long as these risks are properly evaluated.